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• • Indian River County 1 Impact Fee Update Study Annual Gas/Sales Tax = ([Trip Rate x Total Trip Length x % New Trips] / 2) x (Effective Days per Year x 5/Gallon to Capital) / Fuel Efficiency Each of the inputs has been discussed previously in this document; however, for purposes of this example, brief definitions for each input are provided in the following paragraphs, along with the actual inputs used in the calculation of the fee for the single-family detached residential land use (1,500-2,499 sf) category: -4 S • Trip Rate = the average daily trip generation rate, in vehicle-trips/day (7.81). • Assessable Trip Length = the actual average trip -length- for the category, in vehicle -miles (6.62). • ti • Total Trip Length = the assessable trip length' plus an adjustment factor of half a mile, which is added to the trip length to account for the fact that gas taxes are collected for travel on all roads including local roads (6.62°+ 0.50 =,7,-.-12). - New Trips =adjustment factor to account .for tripsthat are already on;the roadway • (100%). '., • Divide by 2 = the total daily miles of travel generated ,by a particular category (i.e., rate*Iength*% new trips) is divided,. by twos to sprevent, thedouble-countingof travel generated betWeen two1and use codes since"everyrytrip has ari origin and a destination. • Interstate/Toll Facility Discount Factor'= ,discount `factor to account for the travel demand occurring on interstate highways and/or toll facilities (17.3%). • Cost -per Lane, Mile=, unit cost .to construct one lane mile of roadway, in $/lane -mile • Average Capacity Added per Lane Mile = represents the average daily traffic on one travel lane at capacity,fdr„one lane'mile of roadway, in vehicles/lane-mile/day (8,255). • Cost perVehicle-Mile of Capacity =-unit of vehicle -miles of capacity consumed per unit of development. Cost per,lane mile divided by average capacity added per lane mile ($2,591,000 / 8;255 ,,$31187). • Present Value = calculation of the present value of a uniform series of cash flows, gas tax payments in this case, given an interest rate, "i," and a number of periods, "n;" for 2.5% interest and a 25 -year facility life, the uniform series present worth factor is 18.4244. For sales tax, which is available only for the next five years, the present worth factor is 4.6458. • Effective Days per Year = 365 days. • $/Gallon to Capital = the amount of gas tax revenue per gallon of fuel that is used for capital improvements, in $/gallon ($0.211 for gas tax; $0.111 for sales tax). Tindale -Oliver & Associates, Inc. Indian River County January 2014 116 Impact Fee Update Study